TRADING TIPS :
GBP/USD hit 1.5099 during European morning trade, the session low; the pair subsequently consolidated at 1.5120, shedding 0.25%. Cable was likely to find support at 1.5032, the low of January 8 and an 18-month low and resistance at 1.5337, the high of January 5. The pound slid to nearly 18-month lows against the U.S. dollar in quiet trade on Monday, as demand for the greenback remained broadly supported despite Friday’s downbeat U.S. average earnings data.The Labor Department reported on Friday that the economy added 252,000 jobs in December, more than the 240,000 forecast by economists. The unemployment rate ticked down to a six-and a-half year low 5.6%.However, average earnings fell by 0.2% last month and were up by only 1.7% from a year earlier.
INTRADAY OUTLOOK
Support: 1.5148
Resistance: 1.5215
RECOMMENDATION:
1. Buy GBP/USD Above 1.5218-TG: 1.5238/1.5268 SL 1.5188
2. Sell GBP/USD Below 1.5145-TG: 1.5125/1.5095 SL 1.5175
INTRADAY OUTLOOK
Immediate Support: 1.1812
Immediate Resistance: 1.1887
RECOMMENDATION:
1. Buy EUR/USD Above -1.1890 TG: 1.1910/1.1940 SL 1.1860
2. Sell EUR/USD Below -1.1810 TG:1.1790/1.1760 SL 1.1840
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